Great stuff Lachlan! Keep up the savings, its always the hardest part but good to hear you've had a 5 year head start!! If you had any topics you wanted me to cover in future videos let me know. Thanks, Jayden.
If you don’t mind me asking brother how much are you up to? I’m 22 & started saving 2 months ago ( now I have a good job ) and I’m just shy of 4K. Decided to stay away from new cars and holidays and go for gold. Goodluck on your journey my dude 🤙
This was explained honestly and with care for those of us who aren’t aware. How did you get into this field of work? This is something I am interested in!
Thanks Rara appreciate it! I got into finance after going to university, just started working with a bank initially and learned from there. Cheers, Jayden.
its good to see informative real estate videos coming from a local source. I'm from the Goldy haha a lot more applicable than the US videos I had been watching
Awesome video. But I am wondering how to calculate the interest amount in Tip1, take a interest rate at 6% as an example, 5820*6%*30=10476, not that much. Did I use the wrong assumption on interest rate😢
Hi Richard. Great question. To calculate the lenders mortgage insurance feel free to check out this calculator: www.huntergalloway.com.au/lmi-calculator/ or to work our repayments feel free to us this calculator: www.huntergalloway.com.au/home-loan-extra-repayment-calculator/
I loved your tips gave me Soo much insight into buying my first home. Problem is am looking for a house in Victoria Geelong. Your tips are definitely helpful
Thanks so much @hesitantpossum! 🙌 because you took the time to leave a comment I'd love to take the time to post you a copy of our book on the 3 simple steps to home buying - assuming you're in Australia please shoot me a copy of your address and I'll get it into the post Jayden.vecchio@huntergalloway.com.au 📬
Yes, it is part of the deposit. However, it's important to clarify that stamp duty and the deposit are not the same thing. Stamp duty is a state tax paid on the purchase of a property, while the deposit is part of the purchase price that you pay upfront. You need to pay both to get a home, so you might pay 5% deposit + stamp duty in total.
Thanks @Patch! Really appreciate it, if you're looking at the Brisbane market make sure you check out our video ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VplzHgGFMcw.html hope you enjoy! Good luck and any questions let me know. Jayden.
Hey @VR, yeah there are a bunch of fees I guess also you need to remember its a pretty large transaction - compare it to fees of say uber eats as a % cost- You order a burger etc for $30 and pay $4.95 delivery fee which is like 16% fee - if the % fees were this high on a home it would be much worse!!
When should you get a building and pest report done? After you've gone for a home inspection at an open home? Or literally, like you said in the video, before you sign the contract (which I would have thought is a bit late into the process)?
Thanks Amada, great question. The costs range, however, an example of some below: Conveyancer and Legals costs/searches: $1,500 Building and Pest Inspection: $500 Moving Costs: $200+ Cleaning Costs: $100+
The Strata report ought to be free. They are already written for the Owner's Committee, so all the Strata Manager is doing is emailing you a copy. But the SMs know every rort in the book.
Hey @YaraNoor thanks much appreciated! You're in luck, we actually have a pre-settlement checklist you can get from www.huntergalloway.com.au/wp-content/uploads/2019/02/House-Settlement-Checklist.pdf and even a moving checklist www.huntergalloway.com.au/resources/. You definitely want to do a walk through to check for defects, chipped paint, etc that the builder can fix up for you before you take the place over.
Hey Anjali, great question. You need to have completed your building and pest (and all due diligence) before auction. Once the hammer goes down, you own the place - here are a few vides we've done that cover this - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-wa8ez9H5VKY.html and ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-3udwuKSkK_Y.html and ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-wa8ez9H5VKY.html
LMI is such a scam. It insures the bank if you default. They can even chase the individual if that happens. It is completely not in the borrower’s interest to have, never mind buy.
Hey Laura, great question but not easy to answer unfortunately 🤣 Best to do your research (follow the steps ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-KXVu9Lp0ogU.html) or chat to a buyers agent that can give you suggestions.
Thanks Mick! Appreciate it if you have any other questions let me know! As a bonus for the comment I’d love to post you a copy of our book Home & hosed the 3 steps to buying a home (assuming you’re in Australia) shoot me your address and I’ll get it into the mail - Jayden.vecchio@huntergalloway.com.au
Can't believe how much land and water rates are fml. Also I despise body corp. Can afford an apartment in the valley but not the body corp!!! Some body corp fees are so high that after a few years you would've paid the value of your apartment!!! Makes me wonder how rich people are able to part with that money lol
Hey David, great question. Most brokers do not charge fees as we are paid by the banks. In our case we do not charge any fees as all for our services. Appreciate the question because you've made my morning I'd love to send you a copy of our book which will help with buying a property in Brisbane - shoot me your address and I'll get it in the post Jayden.vecchio@huntergalloway.com.au
Hi guys, Loving your videos so far! I was wondering if you could make a video for first home buyers that are buying alone? Single income and earning an average income with less than 20 % deposit (approx 10%) Disadvantages and advantages, what the bank looks for etc? Or if you already have a video. Could you please let me know which one it is? Thank you :)
Hey Brendan thanks so much for the comment! Hope you learnt something from the video! Because your comment has made my day I’m going to send you a free copy of our book Home & Hosed the 3 steps to buying your home. Shoot me an email with your address (assuming you're in Australia) and I’ll get it into the post - Jayden.vecchio@huntergalloway.com.au thanks mate! Jayden.
Appreciate you watching @Claire Bear! Cause you took the time to leave a comment I'd love to take the time to post a copy of our book Home & Hosed: 7 steps to buying a home to you for FREE - shoot me your address and ill pop it into the post - jayden.vecchio@huntergalloway.com.au cheers, Jayden.
Great question Massimiliano, this might be something you'd get advise on by your solicitor or conveyancer. However, you would get the property insured.
Quick question, the initial deposit that we pay for land & home i-e $10k for land & 5% for the build, is bank going to consider that as a deposit? Let say value of home and land package is $100k and i paid $5k for land & $5k for home, and bank valuation is $80k. I know that i have to pay $20k to cover the gap. but 20% of deposit will be of $100k or $80k?
Hey Paul, the rules are a little different in NZ - I know you don't need to pay stamp duty so might need to check with an expert from over there! Cheers
Thanks so much Nicola! 🙌 because you took the time to leave a comment I'd love to take the time to post you a copy of our book on the 3 simple steps to home buying - assuming you're in Australia please shoot me a copy of your address and I'll get it into the post Jayden.vecchio@huntergalloway.com.au 📬
Whatever you do, don’t go with “positive property solution” to help you find a home or investment property to purchase. In my opinion, George markoski doesn’t inform you of the costs or fees or change in mortgage repayments. You run into those costs and are taken by surprise, and he’s no help at all. I wish I never got involved with him. Buy a townhouse and it’ll always be negatively geared.
Most White Aussies have a headstart in the property market, thanks to them getting help from their parents, being beneficiaries of trusts set up by family, and receiving inheritances.
Hey @yourgf, yeah sorry I have noticed that sometimes on certain phones. Seems to work when watching YT on web otherwise check out some of the newer videos we have cleaned them up a bit since then! Cheers, Jayden.
